Pine Labs (“the company”), one of Asia’s leading merchant commerce platforms, today announced it has raised a fresh round of funding from Lone Pine Capital (“Lone Pine”). With this investment, Pine Labs is now valued at over USD $2 billion.
“We are excited to partner with Pine Labs as they innovate at scale in the payments and merchant commerce space, benefiting consumers, merchants and financial institutions,” said Mala Gaonkar, Portfolio Manager and Managing Director at Lone Pine. “The Pine Labs team is leveraging key structural changes taking place across payments and fintech globally, including the integration of software and payments at the point-of-sale, the digitization of small-to-medium enterprises, and the rapid adoption of buy-now-pay-later offerings. We look forward to the road ahead.”
Lone Pine’s investment follows the strategic investment made by Mastercard in January 2020, when Pine Labs attained unicorn status. Earlier in December, Pine Labs and Mastercard jointly announced that they will expand their integrated “pay later” solution to five South East Asian markets early next year.